XRP showed unclear volatility during June. Macro decline signals appeared throughout the month, affecting price and sentiment.
However, in July, there is a possibility of a reversal as whale investors' influence grows.
Will XRP Whales Exert Their Influence?
Whale activity has been a crucial factor over the past 10 days. Large XRP holders have accumulated substantial amounts despite price volatility. Addresses holding 10 million to 100 million XRP purchased over 610 million XRP, which is more than $1.33 billion.
This accumulation occurred during a period of uncertain market sentiment, and whales' influence can offset small investors' irregular behavior. Their movements indicate that some large investors remain confident in XRP's long-term prospects, even in a situation where the market is not gaining momentum.
However, investor sentiment remains mixed, with many small investors uncertain about XRP's next move. This uncertainty has been exacerbated by macroeconomic conditions that led to a long-term decline.
The lack of clear developments, such as a delayed XRP ETF launch, has made investors hesitant, reflecting the market's overall indecisive tendency. In an interview with BeInCrypto, Wanchain CEO Temujin Louie mentioned that XRP might face difficulties in ETF launch.
"XRP remains a more speculative asset compared to BTC or ETH. Therefore, the SEC's delay is not surprising at all. They are hesitant to set a precedent and trigger a wave of altcoin ETF applications. The unpredictability of the Trump administration and the possibility of another policy reversal in a few years further complicate the situation," Louie said.
XRP's overall market momentum was influenced by exchange ranking changes, showing a lack of confidence among retail investors. Buy and sell patterns on exchanges over the past month have been volatile, with no clear trend emerging.
This suggests that investors are uncertain about XRP's immediate future, further fueled by the expected ETF launch delay. The lack of specific developments has created an uncertain atmosphere around altcoins.
XRP Price Decline
XRP's price has been trapped in a decline for over a month, trading at $2.18 and remaining above the support line of $2.13. The failure to break through this resistance suggests the decline could continue until early July. The lack of positive movement makes XRP vulnerable to further decline.
The start of July and the third quarter could present a bleak outlook for XRP. If the price remains trapped between $2.23 and $2.13, the downward trend will continue.
Nevertheless, XRP has historically shown positive performance in July in terms of monthly returns. XRP's upcoming mid-month return is 6.91%. If a similar rise occurs in July 2025, XRP could reach $2.32, breaking through the $2.23 resistance.
However, if whales change their strategy and shift from accumulation to selling, XRP's price could suffer additional losses. Losing the critical support line of $2.13 could cause XRP to experience a sharp decline. The altcoin could fall to $2.02, which would invalidate all bullish prospects for XRP.
